Blockchain is a quickly growing technology area for banking, stock exchanges, clearing houses and other businesses that deal in trust. It provides a trust way of recording a ledger of transactions that cannot be erased, only sequentially added to while keeping a never-ending historical trail. This trust comes from the distributed nature of blockchains where no single entity is in control of the information. Instead a consensus is agreed upon by many independent parties. The consistency of the data is guaranteed by rules designed into the blockchain system and are enforced by the participating nodes.
A blockchain replaces a trusted intermediary when implementing trusted transactions, which removes a central point of failure and replace it with a distributed system that is less vulnerable to attack. Thus providing a more reliable IT infrastructure.
We have been involved in projects using Blockchain, but it is currently mostly in a research and development stage. We were a sponsor of Arctic Chain Hackathon 2015, where we also fielded a team in the coding challenge.